Consulting and considering many new policies on retail electricity prices

(PLVN) - At the Ministry of Industry and Trade 's regular quarterly press conference for the fourth quarter, the Ministry answered many questions related to new policy proposals concerning retail electricity prices.

07/01/2025 19:44

Scene of the press conference.

(PLVN) - At the regular press conference of the fourth quarter of the Ministry of Industry and Trade, many questions related to new proposals on policies related to retail electricity prices were answered by the Ministry of Industry and Trade.

On January 7, 2025, at the Ministry of Industry and Trade's quarterly press conference, responding to questions from the press regarding the proposal to shorten the average retail electricity price adjustment cycle, Mr. Nguyen Quang Minh - Head of the Electricity Market Department (Electricity Regulatory Authority, Ministry of Industry and Trade) stated that currently, the average retail electricity price adjustment cycle is a minimum of 3 months.

The Electricity Regulatory Authority has proposed shortening the adjustment cycle to two months and is seeking feedback from many entities, especially those affected. If necessary, an impact assessment period may be required when adjusting the average retail electricity price cycle to two months.

At the same time, Mr. Nguyen Quang Minh added that after synthesizing opinions, the Electricity Regulatory Authority will report to the Ministry of Industry and Trade to advise on the most suitable mechanism at present and in the near future.

Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan further stated that the proposal to change the adjustment cycle for the average retail electricity price is a market-driven issue. Therefore, there are still many aspects that need further research. The Ministry of Industry and Trade has requested the Electricity Regulatory Authority to conduct research and clearly assess the impact of adjusting retail prices every two months or every three months in order to compare and find the most reasonable approach.

Regarding the implementation of the two-component electricity pricing mechanism, Mr. Minh stated that previously, according to the consulting unit for the Vietnam Electricity Group (EVN), the ideal time to apply the two-component electricity pricing mechanism was from January 1, 2025. However, this plan has not yet been implemented. According to Mr. Minh, EVN has submitted a report to the Department, but this is a new mechanism in Vietnam with a significant impact on all customers. Therefore, the Department is requesting EVN to collect data and assess the impact before making any specific proposals.

"The Ministry of Industry and Trade will report to the competent authorities to allow phased implementation; it certainly cannot be applied simultaneously to all subjects," Mr. Minh said.

Regarding EVN's proposal to build the Ninh Thuan nuclear power plant, Deputy Minister Nguyen Sinh Nhat Tan stated that the Ministry of Industry and Trade supports assigning EVN as the investor for the Ninh Thuan nuclear power plant project.

Mr. Bui Quoc Hung, Deputy Director of the Department of Electricity and Renewable Energy, added that the Ministry of Industry and Trade has also submitted a proposal outlining several tasks that need to be implemented soon for the Ninh Thuan nuclear power project.

Specifically: Add the Ninh Thuan 1&2 nuclear power plant to the revised Power Development Plan VIII; consider assigning EVN as the investor for these projects; allow EVN to immediately proceed with appointing consultants and reviewing and adjusting the pre-feasibility study of the project; report to the competent authority for approval to renegotiate and sign an amended agreement with previously implemented partners.

Source: https://baophapluat.vn/dang-lay-y-kien-va-can-nhac-nhieu-chinh-sach-moi-ve-gia-ban-le-dien-post537121.html